IBK Industrial Bank, Complete Overhaul of Foreigners-Only Banking... "Enhanced Remittance and Currency Exchange"

Providing Financial Convenience Services for Foreign Customers Including AI Overseas Remittance, E-Wallet Services, and Support for 15 Languages

[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank announced on the 17th that it has completely revamped its mobile banking app exclusively for foreign customers, 'i-ONE Bank Global.'

The convenience has been enhanced by expanding supported languages and introducing mobile certificates, and remittance and currency exchange services have been strengthened to suit the transaction characteristics of foreign customers. The number of languages supported by the app has been expanded from the previous 4 to 15 (Korean, Chinese, English, Japanese, Filipino, Indonesian, Cambodian, Mongolian, Myanmar, Nepali, Uzbek, Russian, Sri Lankan, Thai, Vietnamese) to increase customer accessibility.

IBK introduced its own certificate, the ‘IBK Mobile Certificate,’ enabling all banking transactions such as inquiry, transfer, and product subscription with just a 6-digit password. In addition, by adopting open banking services, account inquiry and transfers for all banks have become possible.

Also, one of the major inconveniences foreign customers experienced at bank counters?document preparation?can now be done through the app. If documents are prepared in the app before visiting the branch, passbook account opening and internet/mobile banking subscription are possible without additional paperwork. IBK plans to continuously expand products and services available for non-face-to-face subscription.

Artificial intelligence (AI) technology has been applied to overseas remittance services frequently used by foreign customers. When the remittance country and amount are entered, AI finds and suggests the fastest and cheapest remittance method. Additionally, with the electronic wallet service, foreign currency can be exchanged and remitted or withdrawn anytime. A ‘Joint Remittance’ service has also been launched, where inviting friends to remit together grants preferential exchange rates.

An IBK official stated, “We have improved the convenience and accessibility of financial transactions by expanding non-face-to-face transactions for foreign customers, whose non-face-to-face processing was limited,” and added, “We will continue to strengthen customized non-face-to-face financial services for foreign customers.”

This content was produced with the assistance of AI translation services.